MTDR NYSE Oil & Gas Exploration & Production Financials FY2016βFY2025
Matador Resources had $3.7B of revenue in fiscal 2025, up 5.5% on the year before. Over five years, revenue changed +33.8% a year on average.
Hi! I read Matador Resourcesβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+5.5%
Yes. Sales grew 5.5% last year.
Does it make a profit?
20.5%
Yes. It keeps 20.5% of every sale as profit.
Does profit turn into cash?
7.3%
Partly. 7.3% of sales ends up as free cash.
How is the share priced?
10.3x
One share costs 10.3 times its yearly profit per share. Typical for its sector: 17.4x.
Rules of thumb on reported numbers. A starting point, not a recommendation.
About these figures. Matador doesn't report a gross profit; the only cost of sales its filings tag is a small line for its midstream and purchased-oil business, so gross profit and gross margin are left blank. Matador's filings to 2021 tag its senior notes, its credit line and its midstream subsidiary's credit line separately, with no total (2018 and 2019 show the notes alone), so debt and debt-based ratios are left blank in every year, to keep the years comparable.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Matador Resources did it, and the next one. Share prices often move a lot on those days.
Next results
November 3, 2026
Tuesday Β· in 8 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 5, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 6, 2026 | Q1 '26 | After the market closes | 8-K β |
| Feb 24, 2026 | Q4 '25 | After the market closes | 8-K β |
| Oct 21, 2025 | Q3 '25 | After the market closes | 8-K β |
| Jul 22, 2025 | Q2 '25 | After the market closes | 8-K β |
| Apr 4, 2025 | Q1 '25 | Time not announced | 8-K β |
| Feb 18, 2025 | Q4 '24 | After the market closes | 8-K β |
| Oct 22, 2024 | Q3 '24 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Matador Resources had $3.7B of revenue in fiscal 2025, up 5.5% on the year before. Over five years, revenue changed +33.8% a year on average. Its operating margin was 33.2%, down 7.8Β pts: of every 100 in sales, about 33 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Matador Resources made $759M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $270M in fiscal 2025, 7.3% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· Matador Resources returned $219M to shareholders in fiscal 2025, 81% of free cash flow. The diluted share count rose 0.4%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $1.4M of shares on the open market and sold none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$1.4M
6 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | Christopher P CalvertEVP and CFO | Bought | 2,500 | $56.64 | $0.1M | Form 4 |
| Aug 26, 2026 | Joseph Wm ForanChairman and CEO, Director | Bought | 555 | $54.49 | $0.0M | Form 4 |
| Aug 17, 2026 | Joseph Wm ForanChairman and CEO, Director | Bought | 400 | $53.64 | $0.0M | Form 4 |
| Aug 13, 2026 | Joseph Wm ForanChairman and CEO, Director | Bought | 5,000 | $51.44 | $0.3M | Form 4 |
| Aug 12, 2026 | Joseph Wm ForanChairman and CEO, Director | Bought | 10,000 | $52.16 | $0.5M | Form 4 |
| Aug 11, 2026 | Joseph Wm ForanChairman and CEO, Director | Bought | 709 | $51.68 | $0.0M | Form 4 |
| Aug 10, 2026 | Joseph Wm ForanChairman and CEO, Director | Bought | 3,130 | $51.04 | $0.2M | Form 4 |
| Aug 10, 2026 | William Thomas ElsenerEVP, Reservoir Engineering | Bought | 850 | $50.94 | $0.0M | Form 4 |
| Jun 15, 2026 | Robert Gaines BatyDirector | Bought | 500 | $51.44 | $0.0M | Form 4 |
| Jun 9, 2026 | Glenn W StetsonEVP and COO | Bought | 500 | $53.41 | $0.0M | Form 4 |
| Jun 9, 2026 | Joseph Wm ForanChairman and CEO, Director | Bought | 2,000 | $53.07 | $0.1M | Form 4 |
| Jun 8, 2026 | Monika U EhrmanDirector | Bought | 362 | $55.28 | $0.0M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Matador Resources can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $48.1M | $505M | $52.7M | $23.0M | $15.3M |
| Interest coverage | 10.6x | 26.2x | 10.0x | 8.4x | 5.9x |
| Current ratio | 0.8x | 1.9x | 1.0x | 0.9x | 0.8x |
| Quick ratio | 0.8x | 1.9x | 1.0x | 0.9x | 0.8x |
| Total assets | $4.3B | $5.6B | $7.7B | $10.9B | $11.7B |
| Total liabilities | $2.1B | $2.2B | $3.6B | $5.4B | $5.7B |
| Shareholders' equity | $1.9B | $3.1B | $3.9B | $5.1B | $5.7B |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | β | β | β |
| Cash from operations is positive | β | β | β |
| Return on assets rose | β | β | β |
| Cash from operations exceeds net income | β | β | β |
| Debt fell relative to assets | β | β | β |
| Current ratio rose | β | β | β |
| Share count didn't rise | β | β | β |
| Gross margin rose | β | β | β |
| Revenue rose relative to assets | β | β | β |
| F-score | β / 9 | β / 9 | β / 9 |
| Accruals ratio | β15.4% | β14.7% | β14.8% |
| Altman Z'' | 3.03 | 2.68 | 2.56 |
What does the share cost, and how does it compare?
KIRA Β· At $59.96 a share, the company is worth $7.4B: 10.3 times its earnings of the last four quarters.
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets β the answer depends entirely on what you put in.
In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.
Value per share
β
Adds net cash of β and divides by 124.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Value per share
β
Reference multiples: today 10.3x Β· peers β Β· sector 17.4x.
KIRA Β· Matador Resources grew sales faster than 0 of its 4 similar companies. Its P/E is higher than 0 of 1.
Each companyβs latest fiscal year. Fiscal years end in different months, so periods donβt line up exactly.
In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Matador Resources MTDR | $7.4B | 5.5% | 33.2% | 7.3% | β | 10.3x | β | |
| California Resources CRC | $4.9B | 14.7% | 16.3% | 14.8% | 9.5% | β | 4 | Compare β |
| Crescent Energy CRGY | β | 22.1% | 6.4% | β | 2.3% | β | β | Compare β |
| SM Energy SM | $9.6B | 17.3% | 31.7% | β | 11.1% | β | 6 | Compare β |
| Range Resources RRC | $10.8B | 28.9% | β | 18.9% | 13.7% | 12.6x | 8 | Compare β |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $264M | $544M | $900M | $984M | $862M | $1.7B | $3.1B | $2.8B | $3.5B | $3.7B |
| Operating income | β$177M | $161M | $363M | $236M | β$522M | $793M | $1.8B | $1.2B | $1.4B | $1.2B |
| Interest expense | $28.2M | $34.6M | $41.3M | $73.9M | $76.7M | $74.7M | $67.2M | $122M | $172M | $209M |
| Pretax income | β$98.1M | $130M | $292M | $159M | β$599M | $715M | $1.7B | $1.1B | $1.3B | $1.0B |
| Income tax | β$1.0M | β$8.2M | β$7.7M | $35.5M | β$45.6M | $74.7M | $399M | $186M | $292M | $173M |
| Net income | β$97.4M | $126M | $274M | $87.8M | β$593M | $585M | $1.2B | $846M | $885M | $759M |
| Diluted EPS | β$1.07 | $1.23 | $2.41 | $0.75 | β$5.11 | $4.91 | $10.11 | $7.05 | $7.14 | $6.09 |
| Diluted shares | 0.09B | 0.10B | 0.11B | 0.12B | 0.12B | 0.12B | 0.12B | 0.12B | 0.12B | 0.12B |
| Cash flow | ||||||||||
| Cash from operations | $134M | $299M | $609M | $552M | $478M | $1.1B | $2.0B | $1.9B | $2.2B | $2.4B |
| Capital expenditure | $454M | $873M | $1.5B | $946M | $722M | $838M | $1.1B | $3.2B | $3.9B | $2.2B |
| Free cash flow | β$320M | β$574M | β$896M | β$394M | β$244M | $215M | $915M | β$1.4B | β$1.7B | $270M |
| Depreciation and amortization | $122M | $178M | $265M | $351M | $362M | $345M | $466M | $717M | $974M | $1.2B |
| Stock-based compensation | $12.4M | $16.7M | $17.2M | $18.5M | $13.6M | $9.0M | $15.1M | $13.7M | $15.0M | $18.3M |
| Acquisitions | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $75.8M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $55.8M |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $14.6M | $35.2M | $77.2M | $105M | $163M |
| Dividends and buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $14.6M | $35.3M | $77.2M | $105M | $219M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $213M | $96.5M | $64.5M | $40.0M | $57.9M | $48.1M | $505M | $52.7M | $23.0M | $15.3M |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $1.3M | $0.9M | $0.4M | $1.3M | $2.1M | $2.3M | $2.3M |
| Current assets | $279M | $257M | $306M | $279M | $262M | $371M | $1.1B | $716M | $927M | $817M |
| Current liabilities | $170M | $283M | $330M | $400M | $291M | $465M | $576M | $685M | $995M | $1.0B |
| Inventory | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | $1.2B | $1.9B | $3.1B | $3.7B | $3.4B | $3.9B | $4.4B | $7.0B | $9.8B | $10.7B |
| Total assets | $1.5B | $2.1B | $3.5B | $4.1B | $3.7B | $4.3B | $5.6B | $7.7B | $10.9B | $11.7B |
| Total liabilities | $773M | $888M | $1.7B | $2.1B | $2.2B | $2.1B | $2.2B | $3.6B | $5.4B | $5.7B |
| Shareholders' equity | $690M | $1.2B | $1.7B | $1.8B | $1.3B | $1.9B | $3.1B | $3.9B | $5.1B | $5.7B |
| Margins | ||||||||||
| Operating margin | β67.0% | 29.6% | 40.4% | 23.9% | β60.5% | 47.7% | 57.5% | 43.1% | 40.9% | 33.2% |
| EBITDA margin | β20.9% | 62.2% | 69.9% | 59.6% | β18.5% | 68.4% | 72.8% | 68.6% | 68.7% | 65.5% |
| Net margin | β36.8% | 23.1% | 30.5% | 8.9% | β68.8% | 35.2% | 39.7% | 30.1% | 25.3% | 20.5% |
| FCF margin | β121.1% | β105.4% | β99.6% | β40.1% | β28.3% | 13.0% | 29.9% | β48.5% | β47.4% | 7.3% |
| Returns | ||||||||||
| Return on capital employed | β15.4% | 10.2% | 14.6% | 6.9% | β14.8% | 22.1% | 40.1% | 20.1% | 17.0% | 12.0% |
| Return on equity | β16.5% | 13.6% | 19.3% | 5.0% | β38.0% | 36.6% | 48.4% | 24.1% | 19.7% | 14.1% |
| Return on assets | β7.5% | 7.0% | 9.8% | 2.3% | β15.3% | 14.7% | 24.7% | 12.7% | 9.5% | 6.7% |
| Growth | ||||||||||
| Revenue growth | β16.9% | 105.8% | 65.3% | 9.4% | β12.4% | 92.9% | 83.9% | β8.2% | 24.9% | 5.5% |
| Net income growth | β | β | 117.9% | β68.0% | β775.8% | β | 107.6% | β30.3% | 4.6% | β14.2% |
| EPS growth | β | β | 95.9% | β68.9% | β781.3% | β | 105.9% | β30.3% | 1.3% | β14.7% |
| FCF growth | β | β | β | β | β | β | 325.0% | β248.6% | β | β |
| Share count change | 11.9% | 12.4% | 10.9% | 3.0% | β0.9% | 2.7% | 0.8% | β0.1% | 3.4% | 0.4% |
| Financial health | ||||||||||
| Interest coverage | β6.3x | 4.7x | 8.8x | 3.2x | β6.8x | 10.6x | 26.2x | 10.0x | 8.4x | 5.9x |
| Current ratio | 1.7x | 0.9x | 0.9x | 0.7x | 0.9x | 0.8x | 1.9x | 1.0x | 0.9x | 0.8x |
| Quick ratio | 1.7x | 0.9x | 0.9x | 0.7x | 0.9x | 0.8x | 1.9x | 1.0x | 0.9x | 0.8x |
| Capital allocation | ||||||||||
| Capex / revenue | 171.8% | 160.4% | 167.3% | 96.2% | 83.7% | 50.4% | 34.8% | 115.0% | 111.5% | 58.3% |
| Stock comp / revenue | 4.7% | 3.1% | 1.9% | 1.9% | 1.6% | 0.5% | 0.5% | 0.5% | 0.4% | 0.5% |
| Payouts / FCF | β | β | β | β | β | 6.8% | 3.9% | β | β | 81.2% |
| Quality scores | ||||||||||
| Altman Z'' | β0.8 | 1.1 | 1.6 | 1.1 | β0.9 | 2.0 | 4.9 | 3.0 | 2.7 | 2.6 |
| Accruals ratio | β17.8% | β9.6% | β11.9% | β12.3% | β27.6% | β11.8% | β15.6% | β15.4% | β14.7% | β14.8% |
Source: SEC EDGAR XBRL filings (CIK 0001520006). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
